Czech Republic - Staff Report for the 2001 Article IV Consultation - (July 2001)

On 16 July 2001, the IMF Executive Board discussed and approved the results of the Article IV consultations between the Czech Republic and IMF held on 5-17 April 2001. The Czech Republic/IMF consultations are held on an annual basis and focus mainly on assessing the macroeconomic situation and the settings of monetary and fiscal policy.

The discussion also included the results of the joint IMF/World Bank mission. IMF and World Bank experts and invited independent, internationally recognised experts concentrated on assessing the strengths and weaknesses of the Czech financial sector (FSAP - Financial Sector Assessment Program). This comprehensive audit of the Czech financial environment focused on the legal and regulatory framework in individual areas of the financial sector, including observance of international standards. Also evaluated were the sources of macroeconomic risks affecting the financial system, liquidity issues, etc. The final report recommends measures which will contribute to further cultivation of the financial sector as a whole.

To make the final report as widely available as possible, the CNB has published on its website (www.cnb.cz) the full texts of the following documents:

Alice Frišaufová
CNB spokesperson